A trade-finance fund linked to Jefferies alleged that Radiant World may have held only $10,000 in cash despite audited accounts showing more than $200 million. Reuters and Global Trade Review reported the comparison from submissions in London proceedings. LAM Trade Finance Group II alleges a $500 million international trade-finance fraud. The allegations have not been adjudicated.
Reuters described Jefferies as holding a minority stake in LAM. The proceedings involve a global asset-freezing order spanning London, Hong Kong and Singapore, according to the reports. Radiant denies wrongdoing and says it expects to be vindicated in court. Its public statement does not establish the merits of either side’s position.
CASH DISCLOSURE DEEPENS ACCOUNTING DISPUTE
The fund’s submission contrasted the reported $10,000 cash position with more than $200 million shown in audited accounts. The same litigation disputes the existence and recoverability of substantial receivables. Those figures remain claims advanced in court submissions rather than judicial findings.
Global Trade Review separately reported the hearing and the central cash disclosure. The Financial Times provided additional context on the dispute. Because the reports describe submissions rather than a final judgment, the freezing order and financial claims remain explicitly attributed.
PARTIES PREPARE FOR FURTHER HEARING
A submission for Nahar said the case against him rested on circumstance and assertion. Reuters reported that Radiant and Sapphire did not respond to its 17 September request for comment. That absence should not be read as a finding against either party.
Reuters said the next London hearing was likely in late December 2026. A published order, jurisdiction ruling, defence filing or new party statement could materially clarify the dispute before then. Until such evidence emerges, the fraud, receivables and cash claims remain contested allegations.